In an increasingly globalised world, it is common for Australians to own shares or real estate in other countries and in many of those countries death is a taxing point. Consequently, practitioners need to be aware of the issues created by ownership of foreign assets.
To help practitioners understand the key issues that impact on estate planning, this event provided an overview of the relevant issues, covering the following matters:
- domicile, situs and other connecting factors or did Paul Hogan make the right choice?
- taxes and duties
- are you sure that it is a tax haven?
- one will or multiple wills?
- choose your executor wisely
- forced heirship, family provisions and the like
- renvoi and double renvoi - Why you need to care about these obscure concepts.
This event was part of the breakfast club and was also run in Parramatta on the 1st of September.